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Shiba Inu

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Popular meme-inspired cryptocurrency<a href="https://u.today/6-trillion-shiba-inu-shib-in-24-hours-october-record-broken" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> might be on the verge of a fall, and there are exactly two reasons to think so.
The first one is the price action of SHIB, as it lost 3.57% after falling during yesterday's session and, more importantly, it fell below the important 200-day moving average on the daily price chart.
Digging deeper, this is also confirmed by the 50-day moving average on the hourly chart, as the Shiba Inu token failed to break above this important dynamic resistance for 19 straight hours despite multiple attempts. <img src="https://u.today/sites/default/files/inline-images/SHIBUSDT_2024-10-31_15-54-39.png" data-entity-uuid="f6b141d7-8af7-46f3-96a9-ba4024e01241" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://www.tradingview.com/x/r2hIOz6d/&quot;>TradingView</a>">
Currently, SHIB is trading at $0.00001856. If the sellers, or bears, continue to dominate the buyers, or bulls, the price of the popular meme-inspired cryptocurrency may see a drop to as low as $0.00001776, where the 200-day moving average on the hourly chart is located, or even as low as $0.00001687, where the 50-day moving average on the daily price chart is located.
<h2 dir="ltr" id="whales-leave-shiba-inu-shib">Whales leave Shiba Inu (SHIB)</h2>
Another indicator of the impending storm for the<a href="https://u.today/shytoshi-kusama-responds-to-critic-about-shibs-001-target-details" rel="noopener noreferrer nofollow">Shiba Inu</a> token is the behavior of large holders, which has been quite bearish over the past 48 hours, to say the least.
According to on-chain metrics provided by<a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=ownership&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a>, the wallets that control no less than 0.1% of the circulating supply of the token have seen a negative net flow of around 810 billion<a href="https://u.today/889-trillion-shiba-inu-shib-sell-wall-spotted-is-this-bad" rel="noopener noreferrer nofollow">SHIB</a> since Tuesday. <img src="https://u.today/sites/default/files/inline-images/itbshib_2.png" data-entity-uuid="9829b4c5-216e-4a65-acdf-4386b6667600" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://app.intotheblock.com/coin/SHIB/deep-dive?group=ownership&amp;amp;chart=all&quot;>IntoTheBlock</a>">
This is clearly an indication of selling by large SHIB holders, which may be justified by the inconsistent market dynamics where, when the token reaches a strong resistance level, it is less risky to sell and then watch than to hold out in hope of a breakout. <a href="https://u.today/shiba-inu-price-on-verge-amid-800-billion-shib-whale-sell-off" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Shiba Inu Price on Verge Amid 800 Billion SHIB Whale Sell-Off

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